Result of Tender Offer

15 January 2010 Pacific Alliance China Land Limited Result of Tender Offer Pacific Alliance China Land Limited ("PACL" or the "Company"), the closed-end investment company admitted to trading on AIM and focused on investing in a portfolio of investments in existing properties, new developments, distressed projects and real estate companies in Greater China, today announces today announces the result of its tender offer that was announced on 15 December 2009 ("Tender Offer"). The Tender Offer closed on Thursday 14 January 2010 and 6,970,762 of the Company's ordinary shares, representing 4.6 per cent. of the Company's ordinary shares in issue (and able to be tendered under the Tender Offer), have been tendered for repurchase by the Company's wholly-owned subsidiary, PACL Trading Limited, at a price of $1.12 per share. Settlement is expected to take place on 22 January 2010. Following the repurchase, the Company will have a total of 189,833,893 ordinary shares in issue, of which 44,962,611 are held to effectively replicate a treasury share facility by PACL Trading Limited. Background At its launch in November 2007, the Company's admission document indicated that PACL would provide a regular level of income in the form of a dividend up to an annual yield of 6 per cent of Net Asset Value. At an extraordinary general meeting held on 2 March 2009 (the "2009 EGM"), a special resolution was passed authorising the Company to increase this annual yield to 12 per cent. of Net Asset Value. After consultation with the Company's major shareholders following the 2009 EGM, the board of directors of the Company and the Company's investment manager, Pacific Alliance Real Estate Limited, concluded that it would be more tax efficient, and therefore in the best interests of the shareholders, that distributions be made by way of a tender offer instead of a dividend. The shareholdings of existing significant and substantial shareholders, as defined by the AIM Rules, may change following the repurchase of the ordinary shares. The Company will issue a notification at a later date if it becomes aware of any relevant change in such shareholdings that is required to be notified in accordance with Rule 17 of the AIM Rules. For further information please contact: LEGAL COUNSEL: MANAGER: Jon Lewis, General Counsel Chris Gradel, Managing Partner Pacific Alliance Group Pacific Alliance Group 16/F St. John's Building 16/F, St. John's Building 33 Garden Road 33 Garden Road Central, Hong Kong Central, Hong Kong Tel: (852) 29180088 Tel: (852) 29180088 Fax: (852) 29180881 Fax: (852) 29180881 jlewis@pacific-alliance.com cgradel@pacific-alliance.com BROKER: NOMINATED ADVISER: Hiroshi Funaki Philip Secrett LCF Edmond de Rothschild Securities Grant Thornton Corporate Finance Tel: (44) 20 7845 5960 Tel: (44) 20 7383 5100 Fax: (44) 20 7845 5961 Philip.J.Secrett@gtuk.com funds@lcfr.co.uk MEDIA RELATIONS: Sophie Hoggarth Pacific Alliance Group Tel: (86) 21 61135818 shoggarth@pacific-alliance.com Financial Dynamics, London Andrew Walton Tel: (44) 207 269 7217 Financial Dynamics, Asia Alastair Hetherington/Christine Wood Tel: (852) 3716 9800 Notes to Editors: Pacific Alliance China Land Limited (AIM: PACL) is a closed-end investment company with net assets of USD 207.2 million at 31 December 2009. PACL was admitted to trading on the AIM Market of the London Stock Exchange in November 2007. PACL is focused on investing in a portfolio of existing properties, new developments, distressed projects and real estate companies in Greater China. For more information about PACL, please visit: www.pacl-fund.com Pacific Alliance China Land is a member of Pacific Alliance Group, the Asian alternative investment fund management group. [HUG#1373878]